Medline (NASDAQ:MDLN) Given New $52.00 Price Target at Morgan Stanley

Medline (NASDAQ:MDLN) had its price objective raised by Morgan Stanley from $48.00 to $52.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 11.49% from the company’s previous close.

Other research analysts also recently issued reports about the company. Tigress Financial began coverage on Medline in a research note on Thursday, February 5th. They issued a “buy” rating and a $55.00 price objective on the stock. Evercore reiterated an “outperform” rating and issued a $55.00 price objective on shares of Medline in a research report on Wednesday. JPMorgan Chase & Co. set a $55.00 target price on shares of Medline in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft started coverage on Medline in a research report on Monday, January 12th. They set a “hold” rating and a $40.00 target price for the company. Finally, Leerink Partners set a $56.00 price objective on Medline in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Medline Stock Performance

Shares of NASDAQ MDLN traded down $0.87 during trading hours on Monday, hitting $46.64. The stock had a trading volume of 823,755 shares, compared to its average volume of 3,294,958. The company’s 50-day moving average price is $44.52. Medline has a 52 week low of $34.89 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.25). The company had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.52 billion. The business’s revenue for the quarter was up 14.8% on a year-over-year basis.

Insider Activity

In related news, Director Charles N. Mills bought 2,579,310 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was bought at an average cost of $29.00 per share, with a total value of $74,799,990.00. Following the completion of the purchase, the director owned 2,441,379 shares in the company, valued at approximately $70,799,991. The trade was a -1,870.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $28.37, for a total transaction of $172,727,085.27. Following the transaction, the insider owned 4,806,160 shares in the company, valued at $136,350,759.20. The trade was a 55.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MDLN. Sound Income Strategies LLC bought a new position in Medline in the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new position in shares of Medline during the fourth quarter valued at $26,000. NBC Securities Inc. bought a new position in Medline in the fourth quarter valued at about $28,000. Global Retirement Partners LLC bought a new stake in Medline during the 4th quarter worth about $31,000. Finally, North Star Investment Management Corp. acquired a new position in Medline during the 4th quarter valued at about $36,000.

Medline Company Profile

Medline (NASDAQ: MDLN) is a healthcare products and services company that manufactures, sources and distributes a wide range of medical supplies and equipment for healthcare providers. Its product portfolio spans clinical consumables and personal protective equipment, surgical and procedural supplies, wound care and incontinence products, diagnostic and laboratory supplies, and select durable medical equipment. Medline supports care settings that include hospitals, health systems, long-term care facilities, ambulatory clinics and home health providers.

In addition to product manufacturing and distribution, Medline provides supply‑chain and logistics services designed to help healthcare customers manage inventory, reduce costs and streamline operations.